Shipping & Logistics
The shipping & Logistics industry, often acknowledged as the life blood of the global economy and a proxy for global economic growth, plays an important role in international trade. Being a function of cyclical supply-and-demand, international trade is the exchange of capital, goods, and services across international borders or territories.
Unless in extraordinary circumstances, the demand for sea transport, mainly comprised of; imports and exports of raw materials for the manufacturing industry, and manufactured goods, is driven by global economic growth.
It is worth highlighting that, without the shipping industry – said to be responsible for approximately 80 per cent of world trade, International trade would simply not be possible.
The global freight forwarding market is expected to grow steadily with a CAGR of more than 3.5% during the forecast period. The growth of this industry in the global market is due to the following factors: